Wednesday April 30th, 2025

• Corn and soybean futures took a sharp fall yesterday.
  • Old crop corn closed down 15 cents. The new crop contract closed below the 50, 100, and 200 day moving averages.
  • Soybeans barely traded between the 100 and 200 day moving average.
  • The losses were driven by an accelerated US planting pace as both crops are sitting at a pace ahead of the 5 year average. Futures also received some pressure from favorable weather conditions in South America. 
• Wheat futures saw some losses yesterday as well, with the July2025 contract down roughly 6 cents at the close. Timely rains fell across the US Plains and Russian export volumes saw an increase which helped push futures lower.
• Stories were circulating yesterday that China is wanting to decrease grain and meal usage in their livestock feeds. The country aims to cut use by about 60% and reduce soymeal content to roughly 10% by 2030. The move is part of Beijing’s broader effort to reduce dependence on soybean imports, particularly from the US.
  • This isn’t a new story but traders are paying attention to it. 
• Flash Sales:
  • Exporters sold 120,000 tonnes of corn to Spain for 2024/2025 delivery
  • Exporters sold 110,000 tonnes of soybeans to Unknown destinations for 2024/2025 delivery.